Economic indicators show worsening trends – Report
As the nation faced with a depressing economic outlook because of dwindling revenues, the Afenifere Renewal Group (ARG) has called on the federal government to urgently look for a way to keep the country’s debt and recurrent expenditure down saying the nation’s economic indicators are showing worsening trends.
The group said high cost of governance in the country is the reason the government cannot fund the delivery of critical infrastructure and social programmes.
The group gave the advice at the weekend during the presentation of its 2014 annual review of the state of the nation which had been a yearly affair to provide an assessment of national issues.
While presenting the report titled, ‘Nigeria Democratic Governance Report: Curbing Political Instability and Extravagance’, ARG National Chairman, Hon. Olawale Oshun, explained that the assessment of Nigeria’s economic and political issues was not limited to 2014 alone but goes back to 2010, being the last assessment in the current federal regime, in order to provide a big picture of major economic national issues.
Addressing news men, Hon. Wale Oshun explained that governance assessment in Nigeria is extremely difficult to do, adding that such exercise is always subjected to ethnic or political interpretations, which often ended up depriving it of whatever it is worth; hence, the decision to a give report on how Nigeria fared on global rating between 2010 and 2014 as alternative for Nigerians to understand where they belong.